Credit Suisse Group set a $31.00 price objective on Kroger (NYSE:KR) in a research note released on Friday. The firm currently has a hold rating on the stock.
KR has been the subject of several other reports. ValuEngine cut Kroger from a sell rating to a strong sell rating in a research note on Saturday, June 2nd. Loop Capital set a $25.00 price target on Kroger and gave the company a hold rating in a research note on Monday, March 26th. Zacks Investment Research upgraded Kroger from a hold rating to a buy rating and set a $30.00 price target for the company in a research note on Friday, March 2nd. Bank of America cut their price target on Kroger from $33.00 to $28.00 and set a neutral rating for the company in a research note on Friday, March 9th. Finally, Pivotal Research reiterated a buy rating and issued a $28.00 price target (down from $32.00) on shares of Kroger in a research note on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and an average target price of $28.20.
Shares of KR stock opened at $28.45 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.76 and a quick ratio of 0.29. The company has a market capitalization of $22.87 billion, a P/E ratio of 13.95, a P/E/G ratio of 2.11 and a beta of 1.03. Kroger has a 1 year low of $19.69 and a 1 year high of $31.45.
Kroger (NYSE:KR) last issued its quarterly earnings results on Thursday, June 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.10. The business had revenue of $37.53 billion during the quarter, compared to analysts’ expectations of $37.25 billion. Kroger had a return on equity of 29.59% and a net margin of 2.93%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 earnings per share. analysts predict that Kroger will post 2.11 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Stockholders of record on Wednesday, August 15th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 14th. This is an increase from Kroger’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 1.97%. Kroger’s dividend payout ratio is 24.51%.
Kroger declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 15th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
Several large investors have recently made changes to their positions in KR. Spark Investment Management LLC increased its holdings in Kroger by 10.3% in the fourth quarter. Spark Investment Management LLC now owns 20,318 shares of the company’s stock valued at $557,000 after purchasing an additional 1,900 shares during the period. Mackenzie Financial Corp increased its holdings in Kroger by 31.8% in the fourth quarter. Mackenzie Financial Corp now owns 834,813 shares of the company’s stock valued at $22,916,000 after purchasing an additional 201,387 shares during the period. Assetmark Inc. increased its holdings in Kroger by 169.0% in the fourth quarter. Assetmark Inc. now owns 9,024 shares of the company’s stock valued at $248,000 after purchasing an additional 5,669 shares during the period. Amalgamated Bank increased its holdings in Kroger by 9.6% in the fourth quarter. Amalgamated Bank now owns 115,644 shares of the company’s stock valued at $3,174,000 after purchasing an additional 10,104 shares during the period. Finally, Investors Research Corp acquired a new stake in Kroger in the fourth quarter valued at $255,000. Institutional investors own 81.21% of the company’s stock.
Kroger Company Profile
The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.
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